In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news. If you make a lot of money. But it won’t make the slightest difference to the vast majority of working-age Americans, who contribute far less than the existing limits, or
Retirement
The White House announced yesterday that the United States is not in a recession now. And low unemployment numbers like those in today’s employment report show a strong economy, 261,000 jobs were added, tens of thousands more than expected. Expectations were high after Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) data showed demand for
Retirees are more vibrant today than they have been at any other time. They’re more active in their communities. They travel more than ever (at least, those that want to travel). They are even starting businesses at a faster rate today than in previous eras. One of the more significant challenges of starting a new
Key Takeaways As expected, the Fed raised interest rates again by 0.75 percentage points Chairman Jerome Powell stated that they may slow the pace at which they’re hiking rates, but may end up sending them higher than previously expected. It’s a confusing time for investors, as the Fed tries to thread the needle to bring
Share to Facebook Share to Twitter Share to Linkedin Economists increasingly fear the Fed is now pushing the U.S.—and world–into a deeper than needed recession, risking millions of jobs and market stability. During Volcker’s reign, unemployment stayed above 10% for nine straight months and the mortgage rate hit nearly 17%. Some months after Jerome Powell
Last month, the United Kingdom saw the near-collapse of 90% of its pensions holding £1.5 trillion in assets. Now comes news that the German pension system will collapse without reform. Suddenly, the world is awakening to the fact that pensions globally are struggling. The myriad reasons pensions fail are poorly understood—in part because failures are
Taxes can take a big bite out of your retirement income. The more retirement income you have, the more you will be taxed. This results in more of you hard earned money being used to pay taxes. Keep reading as I share how various types of retirement income are taxed. The good news is that
It is Medicare open-enrollment season. And retirees are confronting the usual confusion about what to do. Perhaps the biggest question: Should I enroll in a Medicare Advantage managed care plan or in traditional, fee-for-service Medicare? Like almost everything in the world of insurance, the answer is: It depends. In 2022, almost half of all Medicare
November is National Entrepreneur Month. With studies showing 30% of new businesses are started by people above the age of 50, you might be wondering how they do it. One of the biggest challenges entrepreneurs face, after coming up with their idea, involves financing that new business. If you’ve been working for some time, you’ve
Key Takeaways A recession is a period of a sustained downturn in economic activity. The old rule of thumb used to be two consecutive quarters of negative economic growth, but it’s now down to the National Bureau of Economic Research to call the start of a recession. Recessions can happen for a wide range of